Algert Global LLC Has $1.96 Million Stake in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Algert Global LLC raised its stake in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 115.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 174,012 shares of the company's stock after acquiring an additional 93,109 shares during the period. Algert Global LLC owned about 0.09% of Alignment Healthcare worth $1,958,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Rhumbline Advisers grew its holdings in shares of Alignment Healthcare by 2.2% in the 4th quarter. Rhumbline Advisers now owns 135,704 shares of the company's stock worth $1,527,000 after purchasing an additional 2,937 shares during the last quarter. MetLife Investment Management LLC grew its stake in Alignment Healthcare by 5.6% during the fourth quarter. MetLife Investment Management LLC now owns 61,344 shares of the company's stock worth $690,000 after buying an additional 3,256 shares during the last quarter. Alliancebernstein L.P. increased its holdings in shares of Alignment Healthcare by 2.8% during the fourth quarter. Alliancebernstein L.P. now owns 119,440 shares of the company's stock worth $1,344,000 after buying an additional 3,300 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its stake in shares of Alignment Healthcare by 15.0% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 34,497 shares of the company's stock valued at $388,000 after acquiring an additional 4,497 shares during the last quarter. Finally, R Squared Ltd acquired a new position in shares of Alignment Healthcare in the 4th quarter worth approximately $55,000. 86.19% of the stock is currently owned by institutional investors and hedge funds.

Alignment Healthcare Trading Down 1.9 %

ALHC traded down $0.30 during midday trading on Friday, reaching $15.12. 1,513,816 shares of the company were exchanged, compared to its average volume of 1,832,669. The stock has a market capitalization of $2.99 billion, a P/E ratio of -19.64 and a beta of 1.32. Alignment Healthcare, Inc. has a one year low of $6.66 and a one year high of $21.06. The stock's 50-day simple moving average is $17.34 and its 200 day simple moving average is $14.48. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.07. Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. The business had revenue of $926.93 million for the quarter, compared to analyst estimates of $889.83 million. During the same quarter last year, the firm earned ($0.25) EPS. Alignment Healthcare's quarterly revenue was up 47.5% compared to the same quarter last year. As a group, analysts forecast that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ALHC shares. Piper Sandler raised their price target on Alignment Healthcare from $14.00 to $21.00 and gave the company an "overweight" rating in a report on Tuesday, March 4th. Stifel Nicolaus lifted their price target on Alignment Healthcare from $18.00 to $23.00 and gave the company a "buy" rating in a report on Tuesday, April 8th. JPMorgan Chase & Co. increased their price objective on shares of Alignment Healthcare from $14.00 to $17.00 and gave the stock a "neutral" rating in a report on Thursday, March 6th. Bank of America boosted their target price on shares of Alignment Healthcare from $15.50 to $18.50 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. Finally, Stephens reissued an "overweight" rating and set a $17.00 price target on shares of Alignment Healthcare in a research note on Monday, February 24th. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $17.17.

Insiders Place Their Bets

In related news, CEO John E. Kao sold 90,000 shares of Alignment Healthcare stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $14.23, for a total value of $1,280,700.00. Following the sale, the chief executive officer now owns 2,183,100 shares of the company's stock, valued at approximately $31,065,513. This trade represents a 3.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Dawn Christine Maroney sold 230,000 shares of the company's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $19.10, for a total value of $4,393,000.00. Following the transaction, the president now directly owns 2,132,899 shares of the company's stock, valued at approximately $40,738,370.90. This trade represents a 9.73 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,181,855 shares of company stock worth $35,166,057. Corporate insiders own 7.00% of the company's stock.

About Alignment Healthcare

Alignment Healthcare, Inc, a tech-enabled Medicare advantage company, operates consumer-centric health care platform for seniors in the United States. It provides customized health care designed to meet the needs of a diverse array of seniors through its Medicare advantage plans. The company was founded in 2013 and is based in Orange, California.